In Papua New Guinea, Ramu Agri-Industries' expansion plans will have an impact on many business houses in Lae.
RAI pumps an estimated 27 million US dollars into the Morobe province's economy a year and provides jobs to 750 full-time staff with an annual payroll in excess of 5.5 million US dollars.
The newspaper, The National, reports that the RAI board chairman Peter Colton spoke during a presentation to industry leaders.
He says Ramu has diversified from being a sugar company to a food business that includes oil palm, peanuts and beef.
Upon completion of its new oil palm mill and the commissioning planned for next March, the company is expected to employ an additional 500 workers.